Sofi Tech's Lending And Financial Services Momentum Well Above Estimates: Goldman Sachs Raises Forecast

Goldman Sachs analyst Michael Ng reiterated a Neutral rating on Sofi Technologies Inc SOFI with a price target of $7.50. Ng noted Sofi Technologies upgraded its full-year net income outlook to $175 million—$185 million (versus $165 million—$175 million prior). The analyst writes that adjusted EBITDA margins should continue to ramp throughout the year to 25% for the full year 2024 as the company optimizes its capital structure towards using lower-cost deposits as a funding source and improves unit economics ...